Suzhou Veichi Electric (SHA:688698) will invest 20 million yuan to establish a joint venture with four entities, according to a Shanghai bourse filing on
Shenzhen Kedali Industry, Zhejiang Yinlun Machinery, Shanghai Kepler Robotics, and Shenzhen Weili Growth Enterprise Management Consulting Partnership (Limited Partnership) are the other joint venture partners.
The venture, Suzhou Yizhi Dexterous Drive Technology, will have a registered capital of 50 million yuan and will be computer hardware and software retailer and a smart robot developer.
The Chinese electric drive control system provider will own 40% of the venture.
Kedali will hold 30% of the venture after investing 15 million yuan into its capital, Yinlun to take 20% after injecting 10 million yuan, Weili Growth will hold 7% of the venture after injecting 3.5 million yuan, and Kepler will own 3% after subscribing 1.5 million yuan.
Veichi Electric's shares rose over 2% in recent trade.
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